11 Nov 2024

Los Angeles Vs New York - Who Wins in Rates

James McLean

Union Realtime

The Radius+ team compared how rates trended in two of the best Self Storage markets in the country. NYC, NY and Los Angeles, CA! We looked at REIT rate data for 10x10 CC units.

January 1st 2023 - November 5, 2023 -
Average Price Per Square Ft:

NYC: $1.95
LA: $2.11

January 1st 2024 - November 5, 2024 -
Average Price Per Square Ft:

NYC: $1.77
LA: $1.83

Percentage change:

NYC: 9.3% decrease
LA: 13.3% decrease

While the rates are higher in LA than NYC it appears that demand softened less in the NYC market as rates saw a smaller percentage decrease year over year!

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